Retail Insight | Entrepreneurship
CEO, The Americas
The Store WPP
and also cultivate
Legacy retailers are attempting to become more nimble and entrepreneurial by developing those qualities in-house and also by bringing entrepreneurs into their businesses. For example, Target has taken on parts of the product line of Casper, the online mattress company that positions itself around the connection restful sleep and health and wellness. Walmart surprised the industry 2 years back with acquisitions such as Jet and ModCloth. They’ve even established a center to cultivate entrepreneurial talent, calling it Store No. 8. We’re also hearing more about a reconsideration of physical space, including pop-up stores and other innovative venues, as a place where you experience a brand and capture data, rather than buy stuff.